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How blockchain is powering the next generation of online gaming
While there has been some controversy in online gaming communities, it now seems that it is all systems go when it comes to the use of blockchain in the world of online gaming. While this is likely to take many forms over the next few years, we’ll focus on what seems to be happening right now in the world of online gaming.
While many of the larger developers have yet to embrace blockchain, even though Square Enix has tried, it will only be a matter of time before we see it integrated into every game imaginable. This is especially true now cryptocurrency regulation in places like India is starting to pick up pace, and others will soon follow.
Let’s review how blockchain is helping power the next generation of online gaming.
Better ownership of game assets
Sometimes you may see ownership of gaming assets called non-fungible tokens (NFTs). Microtransactions are currently all the rage; However, a big problem people have with them is that you can buy things in the game but you don’t actually own them. You have no right to pass them on to anyone. However, this may change as blockchain begins to become more involved in the online games we play.
NFTs will enable true digital ownership of an asset. This will allow you to make a microtransaction in a game, such as purchasing loot, opening it, and digitally awarding yourself that resource. You are legally the only person who owns that copy of the resource.
If this is implemented correctly in the games we play, we will be able to sell these resources to another player. This could allow players to earn a decent amount of money. For example, there are assets in games like CS:GO that sell for thousands of dollars.
In theory, the company that created those assets would be able to take a small slice of the pie when those assets are sold. This is something that many of the larger gaming companies are looking to experiment with in the near future. We expect it to appear in a variety of EA games, particularly sports games that rely heavily on the value of digital assets.
Opportunity to play to earn
There aren’t many games going this route right now, with Axie Infinity being a notable exception. However, we’re likely to see more games that offer “play to earn” opportunities, such as games that let you earn cryptocurrency that can be spent elsewhere.
We doubt this will end up becoming a huge thing outside of the biggest games in the world, especially since the cryptocurrency has to have some sort of value for it to be worth playing. However, if this is something that takes off, we’ll likely start to see more engagement with these particular games. This is essential for online games, as higher engagement leads to more players, which leads to more people spending money on those games.
Movable goods between games
One thing that’s being pushed by a lot of larger game publishers is the idea of being able to move ownership assets between games. For example, if you earned a sword in your favorite online role-playing game, you will be able to take this very sword and play it in your favorite online battle royale game. We know this is a pretty simple example, but if blockchain technology is used correctly, this is how everything could work.
It doesn’t even have to be between different game genres. Some people believe that blockchain technology can be used to move assets between games in the same series. We’re sure there are many people who have spent tons of money on a game, only for that game to go depopulated or shut down soon after. For example, EA’s sports games get a new update every year. This means that people have to start from square one with their microtransactions. What if people could move their purchases from one game to another? Or even from one game format to another? People would be much more likely to spend money because they truly feel like they own their gaming assets.
This is where we expect to see most companies experiment with blockchain, as not only will it end up benefiting the player, but it will end up benefiting the publisher of the game as well, as they will end up making a lot more money. This is why even industries like online casinos are starting to take notice.
Blockchain-focused payment methods
Blockchain-centric payment methods will likely become the norm in gaming and some industries, such as online casinos. In fact, many online games are already starting to take advantage of this blockchain-focused payment methods. For example, now you can play with TRON at various online casinos, and we wouldn’t be surprised if other online games started creating blockchain transactions directly within them. This will reduce the transaction fees that many game publishers will have to pay, and many of them prefer to save money.
The elimination of cheating
If blockchain technology was implemented properly in games, it could help make them much fairer. Every action a player takes in the game and every operation made will be recorded on the blockchain and verified for fairness. It will require a huge amount of processing power for this to happen, but there’s a good chance that if everything is implemented correctly, we could say goodbye to cheating in online games.
Since one of the main problems people have with online games is cheating, it would be wonderful to see a world where this no longer happens. Game publishers would have no problem getting people to play their games, and players would probably have more fun too.
Some online games have actually started using blockchain to try to reduce cheating and make games fairer. For example, we are currently seeing a lot of these in the world of online casino games. However, the technology is still quite rudimentary and it may take a while before it can be applied to some of the larger games out there due to the number of actions each player must take. However, it could be a very real possibility in the future.
The future of blockchain in online games: how we see things
As you can see, there are several ways blockchain can be incorporated into online games. In fact, we believe blockchain could be used to power the next generation of online gaming, and we’re already seeing it happen. It hasn’t made it into some of the bigger games we play yet, but it’s only a matter of time. However, most people won’t notice when blockchain is implemented into their games. At least not until they start to see a reduction in cheating and true ownership of their digital assets. The future is really bright if you are an online gamer.